Securitization Machine News Today : Breaking News, Live Updates & Top Stories | Vimarsana

There's two things that are happening, i think, sort of produced the securitization machine, produces a crisis. one of them is deregulation and -- expanding the realm of things that are legal. the fed was asleep at switch. people going to meeting with the feds saying the standards are degrade. there was an expansion of what was legal. there was -- i'm not a prosecutor but just from what research i have done and seems a lot of illegal activity. people who are -- doing things that knew are fraudulent and passing paper they knew was no good. in terms of the notion of what will prevent the next cr...

Mortgage-backed security was a good investment. just a pool of mortgages, you buy a share of the -- income stream from the mortgages and -- everyone had 30-year fixed rate mortgage. i had a 30-year fixed rate mortgage. and america was still in this lend and hold model p.m. bank lent the money, paid off the bank that lent it to you. it changed into what you just called securitization machine. the point wasn't to finance people to buy homes. the point was to pour as many mortgages as you could, sell off the shares and get more mortgages. there was almost an element of desperation that took over ...

Securitization fraud. >> i'm asking my attorney general to create a special unit, federal prosecutors and leading state attorney general, to expand our investigations into the abuse of lending and packaging and risking mortgages that led to the housing crisis. this new unit will hold accountable those that broke the law and speed assistance to homeowners and help turn the page on an error of recklessness that hurt so many americans. >> on friday the justice department announced that they had issued civil subpoenas to 11 financial institutions and today it is my great pleasure to welcome to the...

Have opened up investigations on the banks' foreclosure practices. complicated story i tried to tell on television a number of times with not a tremendous amount of success. more or less, what was happening was banks were foreclosures on properties that they didn't even own and on properties without the actual legal note, bank note, said we own this loan. and the foreclosure problem was actually a symptom of the true rotten cause. the rotten cause was when the securitization machine was going as fast as it possibly can go, people weren't being real careful about the chain of custody of the ban...

General in the united states have opened up investigations on the banks' foreclosure practices. complicated story i tried to tell on television a number of times with not a tremendous amount of success. more or less, what was happening was banks were foreclosures on properties that they didn't even own and on properties without the actual legal note, bank note, said we own this loan. and the foreclosure problem was actually a symptom of the true rotten cause. the rotten cause was when the securitization machine was going as fast as it possibly can go, people weren't being real careful about th...